Organized self-help housing: Key to housing the low and medium income majority in Zambia INTRODUCTION Housing is a basic social need after food and clothing and, as with the other basic need, adequate housing is a pre-requisite to national socio – economic development. Its inadequacy can have
India – a case Study CONTENTS Introduction The Physical Setting, The Physical Geography of the country Himalayas Great plains The Deccan Plateau Thar- The Great Indian Desert Indian Islands People of India Religious Communities The people - Different races and ethnic groups live in India Languages
Construction economic and Finance Introduction There should be no doubt that there are mutual effects of real estate sector and the general economy. The general economy is the entire network of producers, distributors, and consumers of good and services in a local, regional, or national community.
A Case Study
Table of Contents
Housing – A Multisided Platform (MSP) 5
What Housing Did Right? 5
Service Package To Home Buyers – Demand Side 5
Service Package To Real Estate Agents/Brokers – Supply Side 7
Housing’s Service Characteristics 9
How Housing Tracks Service Quality? 10
What Went wrong in terms of Service? 12
Housing (formerly called Housing.com) was started by a group of 12 IITians in 2012 with the vision to transform the online real estate sector in India.
It professed to bring greater transparency and ultimately become the most trusted real estate platform in the country. It’s approach, at the most basic level, was rooted in technology and authentic data. Backed by marquee investors like Softbank, Helion and Nexus Venture Partners, Housing was valued at about $250 million by late 2014 after having raised north of $120 million since its inception.
However, things started to go sour as the real estate market slumped even as the company spent exuberant amounts in salaries and in general operations.
There was also disagreement over the focus of the company at the top management level. With increased investor’s impetus on profitability and pressure on reducing the massive operational burn rate, the company took to cutting costs and down-sized its workforce in three rounds, which brought the total employee count from 2,500 at its peak in June 2015 to about 1,000 in June 2017. All of these factors affected the key service metrics and the company lost its footing in this competitive and fragmented market of real estate.
The valuation of company eroded to $70-$75 million and was ultimately acquired by News Corp backed real estate portal PropTiger.
This report attempts to analyze what Housing did right in terms of its service and operations which captured the imagination of 3.5 million monthly visitors on its website.
It was the first real estate portal which strongly believed in the authenticity of information - be it real photos of houses, the 360 panorama view of land plots, verified neighborhood details or the accurate mapped location of each listing. It gave users a powerful tool that allowed them to conduct a thorough home scout without actually necessitating their physical presence.
We would look at what went behind in creating this seamless experience, complete with brilliant visualization and an intuitive and .....[read full text]
Housing is the first and only real estate website in India with a highly trained data-collection team (500 data collectors across 6 cities) that visits each and every property that it lists.
They collect and verify information, photos and geographic locations down to the last detail to ensure a great virtual profile for all the listings on the site. The ingrained belief is to provide genuine data for users and hence genuine leads for the partner brokers. This makes sure the process is hassle free and has a high rate of conversion.
Reliability of data
The data is up-to-date since Housing runs a decay algorithm in backend which automatically deactivates rental properties after 3 months and resale properties in 6 months, thereby ensuring that the flats that users can see are actually those inventory which are available in the market and aren’t yet sold out.